MAG Silver Corp.

MAG Silver Corp. is focused on advancing two significant projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the silver mining industry. Currently, we are advancing the underground decline towards the high grade Valdecañas and Juanicipio silver vein discoveries in Zacatecas State, all within the joint venture between MAG Silver (44%) and Fresnillo PLC (56%). In addition, we are negotiating surface access in order to further delineate our district scale, 100% owned Cinco de Mayo property in Chihuahua state, where two new silver, lead, zinc discoveries are opening up further growth opportunities for MAG Silver Corp.

Expert Comments:

Heiko Ihle, Rodman & Renshaw (3/10/16)
"With closing the recent $74.7M capital raise, MAG Silver Corp. now has a strong balance sheet consisting of $147M and no debt—allowing for continued advancement of the Juanicipio Project. The capital raise serves as a significant derisking event for the firm; there should be no need to raise additional capital once a formal production decision is made. . .continued exploration success at the property could significantly improve the already impressive resource base at the project. . .the economics of Juanicipio could be greatly enhanced following the receipt of additional drilling results, making the already robust project even more attractive."

David Sadowski, Raymond James (3/1/16)
"MAG Silver Corp. successfully closed an oversubscribed bought deal equity financing for gross proceeds of $65M. We estimate this raises the company's cash position to ~$135M, sufficient to cover remaining pre-production capital requirements at the flagship, 44%-owned Juanicipio project in Mexico, as well as to fund further aggressive exploration."

Philip Ker, PI Financial (2/18/16)
"MAG Silver Corp. and its joint venture partner Fresnillo have had their heads down focused on the underground development at Juanicipio, which continues to progress steadily with ramp development. Construction of the decline ramp is now over 2,200m in length and the joint venture partnership is beginning to evaluate its longer lead items for surface construction. . .we are increasing our target price from $10.80/share to $13/share and maintain our Buy rating."

Greg McCoach, Mining Speculator (2/17/16)
"Since recommending MAG Silver Corp., the company is now up almost 30%. In a bad market, just stick with the highest quality, and when it comes to a great silver company, MAG is about as good at is gets; most of this gain has been during a bad market, and now we'll begin to see how higher silver prices will affect our share price."

"MAG Silver Corp. has a new discovery that is different from the bonanza zones that make up the existing PEA and resource estimates at its Juanicipio project in Mexico, a joint venture with Fresnillo. The intercepts so far on the new deposit tend to be closer to 20m thick versus perhaps 6m on the bonanza zones. The grade tends to be a touch higher, too. In a sense, it could be a second mine, which demonstrates to Fresnillo that there is upside beyond the Juanicipio and the Valdecañas veins and leaves some meat on the bone for a potential acquirer. Also, as we mentioned earlier, we like companies that are nearing construction decisions and MAG Silver is roughly six months away from making one. . .under the joint venture agreement Fresnillo can't make a hostile bid to acquire MAG Silver. It would need to make a friendly offer. I don't expect any tension in the relationship created by the upside of that deposit. . .there's going to be an updated PEA that will include an additional resource and a rework of the mine model, which should show improved economics even with flat gold and silver prices. By the middle of 2016, MAG Silver should have all the necessary permits to break ground on construction. MAG Silver was responsible for 44% of the $312M capital budget originally estimated for the project. That should come down in the new PEA, given the money already spent to date. The next step after the PEA is a construction decision." read more >

Chris Thompson, Raymond James (1/18/16)
"We highlight MAG Silver Corp., Fortuna Silver Mines, and Tahoe Resources as defensive choices, reflective of our view that 2016 will be challenged by continued lackluster metal price performance. . .MAG Silver continues to rank as our top developer pick in the silver sector given its standout economically robust project. . .MAG Silver and Tahoe Resources rank favorably given their low operating cost structure (high margin) and strong balance sheets."

More Expert Comments

Experts Following This Company

Markus Bachmann, Fund Advisor – Craton Capital
John Bridges, Analyst – J.P. Morgan
Michael Gray, Analyst – Macquarie Capital Markets
John Hathaway, Senior Managing Director – Tocqueville Asset Management L.P.
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Andrew Kaip, Analyst – BMO Capital Markets
Philip Ker, Mining Analyst – PI Financial
Douglass Loud, Executive Director – Axiom Capital
Kevin MacKenzie, Analyst – Salman Partners
Chris Mancini, Research Analyst – Gabelli Gold Fund
Greg McCoach, Editor – Mining Speculator
David Morgan, Publisher – Silver Investor
Jeffrey Mosseri, President, Director – Greystone Asset Management, LLC., Axiom Capital
Gwen Preston, Founder Resource Maven
Joe Reagor, Analyst – ROTH Capital Partners
David Sadowski, Analyst – Raymond James
Chris Thompson, Mining Analyst – Raymond James
Trevor Turnbull, Analyst – Scotia Capital

The information provided above is from analysts, newsletters, the company and other contributors.

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